Impact of Increasing Mortgage Rates and Closing Costs on Home Prices in Montgomery County MD 

Buying a home is a significant accomplishment in your family's life that can be financially rewarding and very satisfying. 

You may have an understanding of what a down payment and other costs are but, but there are additional costs branded as "CLOSING COSTS" that you need to consider

If you are thinking of buying a home in Montgomery County MD you need to know all of the costs associated with buying and owning your next home. This includes the costs of your downpayment as it relates to the purchase price and the type of loan you may be obtaining to purchase your house. 

The closing costs are also a huge consideration when saving enough money to buy a house in Montgomery County MD. They are also related to the total price of the house you are purchasing 

Today, I would like to speak more in detail about to this question I received

There are some who are calling for a decrease in home prices should mortgage interest rates begin to rise rapidly. Intuitively, this makes sense as the cost of a home is determined by the price of the home, plus the cost of financing that home. If mortgage interest rates increase, fewer people will be able to buy, and logic says prices will fall if demand decreases.

However, history shows us that this has not been the case the last four times mortgage interest rates dramatically increased.

Here is a graph showing what actually happened:

READ MORE: http://www.reallynicehomes.com/blog/impact-increasing-mortgage-rates-and-closing-costs-home-prices-montgomery-county-md/


???Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system
www.99SOLD.com - Call or text 240-426-5754 for more information.